Stock Market News

China's manufacturing sector continues to deteriorate in March

Output in China's manufacturing sector contracted at the quickest pace in 18 months in March, according to data published by HSBC/Markit on Monday.

Specifically, the flash HSBC China manufacturing PMI hit an eight-month low at 48.1. Analysts had expected the reading to rise from February's 48.5 to settle at 48.7. Readings below 50 indicate a contraction in the sector.

The manufacturing output index fell to 47.3 from 48.8, an 18-month low.

New orders also deteriorated at a faster rate, though new export orders gave off a positive signal as they showed an increase, thus changing direction.

The data pointed to a continued slow down in the sector's growth momentum.

"We expect Beijing to launch a series of policy measures to stabilize growth. Likely options include lowering entry barriers for private investment, targeted spending on subways, air-cleaning and public housing, and guiding lending rates lower," he added.

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